Evidence item

The paper directly states that shelter-inclusive targeting can raise disinflation costs when tightening generates rent increases. MODEL_OUTPUT

Authenticity UNVERIFIED · extraction UNVERIFIED · independence group none (unreviewed) · created seq 21836

Source: Housing Market Segmentation and Monetary Policy · locator {} · excerpt hash sha256:263de80c3e1c203c114d493a8dc739fdeeb042e037f41bc7a8681336f3e1220e

Exact excerpt

Under a Taylor rule that responds to shelter-inclusive PCE inflation, the central bank reacts to a rent increase generated by its own tightening, raising the output cost of measured disinflation. Excluding shelter from the target lowers this cost and improves welfare, and responding more strongly to goods inflation raises welfare further.

Linked claims

Claim	Direction	Relevance	Steps	Counted
01dfb7d4	SUPPORT	DIRECT	0	yes

Audits

None.